Press SAUTE on Instant Pot. Add oil and once it’s hot, Add minced garlic and onions and saute till onions are soft and translucent.
Next add rinsed basmati rice.Toast the rice for 30 secs(till aromatic).This step helps your rice to cook up into separate grain and is more flavorful.This step is optional.
Add diced red bell pepper ,jalapeño ,red chilli powder ,ground cumin ,salt ,water or vegetable broth and give a quick stir and deglaze the pot ie make sure there is no food particle sticking to the pot to avoid burn alerts.
Add the tomato sauce or canned crushed tomatoes on top. Do NOT STIR.
Close the lid on the pot, and turn pressure valve to SEALING position.Set the pot to MANUAL/PRESSURE COOK (High Pressure) and set timer to 5 minutes.
Allow natural pressure release for 5 minutes and then do Quick Release for any remaining pressure.
Add fresh cilantro/coriander leaves ,lime Juice.Stir well to combine.
Serve this instant pot mexican aka spanish rice as a side or inside burritos or tacos!