Press the SAUTE button of the Instant Pot. Once it displays hot, add light olive oil and let it heat up for 30-40 seconds.
Once the oil is hot, add garlic and onions and fry till the onions turn translucent (3-4 minutes). Keep stirring at regular intervals.
Add rinsed and drained rice to the pot and saute for 3-4 minutes, until it absorbs the oil. Keep stirring gently.
Add Jalapeno pepper, red bell pepper, yellow bell pepper, peas, corn, and carrot and cook for 2-3 minutes.
Add canned tomato puree, salt, pepper powder, cumin powder, and paprika along with chicken or veg stock.
Press the CANCEL button. Close the lid of the Instant pot and set the valve to the sealing position.
Press PRESSURE COOK and set the timer to 6 minutes on high pressure. Once the timer goes off, let the pressure release naturally for 10 minutes.
Release the remaining pressure manually by moving the valve to the venting position (QPR). Let the rice sit for 5 minutes and then serve.
INSTANT POT MEXICAN RICE IS READY! CLICK BELOW FOR DETAILED RECIPE.