Rinse basmati rice with water 2 to 3 times or till water runs clear. Soak washed rice in 1 cup of water for 30 minutes.
To make cumin rice, set the sauté mode of the instant pot for 5 minutes.
Add ghee to the inner pot. Once the ghee is melted and hot, add bay leaf, cardamom, cloves, and cumin seeds. Fry them for 40 to 50 seconds to release the aroma of spices.
Add soaked rice without water. Do not discard the water. Gently fry the rice for 1 minute to infuse the rice grain with the flavor of spices and ghee.
Add soaked rice water and an additional ¼ cup of water and salt. Stir to combine. Cancel the sauté mode. Close the lid of the instant pot. Set the steam valve to the sealing position. Set the PRESSURE COOK mode for 3 minutes.
Once the set timing is over, you can either wait for a natural steam release or do a quick release manually.
Open the lid, fluff the rice using a fork, and sprinkle chopped coriander or cilantro leaves. Allow jeera rice to sit for 1 minute.
Serve jeera rice warm with your favourite curry or dal.