Set the Instant Pot to SAUTE & keep it at NORMAL.
Add ghee, when the ghee becomes moderately hot throw in the whole spices mentioned in the "Whole spices" section above. Sizzle them for a few seconds.
Next, add the sliced onions and fry them until nice and golden. You can ass salt at this stage.
Once the onions turn lovely golden color add the ginger paste and saute until the raw smell of the ginger completely disappears. Took me 1 min.
Now, add the peeled and diced potato chunks and give everything a very good mix.
Add the fresh or frozen and thawed green peas and mix well with the other ingredients in the pot.
Now, add the dry spices and give everything a good mix. Things will start to stick at the bottom now, don't worry, we will be deglazing the pot later. Also, sprinkle few teaspoons of water to prevent the spices from burning. Fry everything until the spices become nice and roasted or until the raw smell of spices begin to fade.
Pour the exact measured water which is 1 & 1/4 cups ( 1 cup = 240 ml ). De glaze the pot well.
Drain the soaked rice with the help of a strainer or colander so that no excess water remains. I generally let the rice drain for 1-2 mins.
Add the drained soaked basmati to the inner pot of the Instant Pot and gently mix with the rest of the ingredients.
CANCEL the SAUTE mode. Close the lid of the Instant Pot, seal the valve and PRESSURE COOK on HIGH for 4 mins.
After 4 mins when you hear the Instant Pot beeping sound wait for Natural Pressure Release (NPR) for 10 mins and than release the rest of the pressure manually by moving the valve from the SEALING to the VENTING position.
Open the pot, gently fluff the Aloo Matar Pulao with the help of a fork.
Serve it with Yogurt or raita, sliced onions and garnish with fresh chopped cilantro leaves for extra flavor. Enjoy!