Rinse the rice very well in water two to three times and keep the washed rice aside, discard the water used for rinsing the rice.
Add the butter to the instant pot, set in saute mode and adjust to low. As the butter is melted, add the cumin seeds, cinnamon sticks, bay leaves, star anise and cloves and lightly fry for few seconds.
Add onion powder and garlic powder, stir well (if you are using onions and ginger garlic paste, you can add this and saute for few minutes until the onions are lightly browned).
Add the green peas and enough salt, stir and saute for 2 to 3 minutes.
Add the turmeric powder and broken dry red chilies, stir well and saute for one more minute.
Add the rice, enough salt and water. The water should be enough to immerse the rice, if its not covering the rice, you may add a little more water to barely cover the rice. Stir to make sure rice is not sticking to the bottom of the pot and also make sure the water has reached at the bottom.
Close the pot with lid in sealing position, press manual and cook in high pressure for 5 minutes (if using dried/soaked peas you may cook for an additional minute).
After cooking the pot will beep, press the 'keep warm/cancel' button once the cooking is done. Wait for a natural pressure release of 10 minutes.
After an NPR (natural pressure release) of 10 minutes, manually release the remaining pressure very carefully by turning the lid to venting position slowly and gradually releasing the pressure.
Once the pressure is all released, carefully open the lid, gently mix using a spoon or spatula or gently fluff using a fork. Serve the delicious and easy peas pulao hot with raita (yogurt salad) or any curry as you like. You can garnish the cooked pulao with chopped cilantro leaves, curry leave etc if you wish.