Turn on the Instant Pot and set to Saute mode. Once it's heated, add in oil, mustard seeds, cumin seeds, cinnamon stick, star anise, and mace. Let them sizzle.
Add the onions next and saute for half a minute until they become translucent.
Add the peas next. Saute for 1minute.
Add the powdered spices next and mix well.
The rice goes in next. Add the water and let it come to a boil.
Put on the lid and set the Instant Pot to manual Pressure Cook mode for 15 minutes, making sure that the valve is in the sealing position.
Let the pressure release naturally before removing the lid.
Serve hot.
Notes
The timing for cooking can vary from instant pot to instant pot. Please take that into consideration while making the recipe.