Combine the rice and water in the Instant Pot inner pot. Stir.
Lock the lid and set the vent to sealing.
Press the pressure cook button and set the time to 8 minutes. When the time is up, let the pressure release naturally for 10 minutes, then do a quick release.
Remove the rice from the heat immediately.
Notes
For fluffy Basmati rice, use a 1:1 water-to-rice ratio. For example, if you're cooking 1 cup of rice, add 1 cup of water.
Carefully release any remaining pressure and open the lid. Gently fluff the rice with a fork to separate the grains.
Make sure to remove the rice from the heat immediately after releasing the last of the pressure. This means removing the inner pot from the Instant Pot.
Enhance the flavor by adding a pinch of salt, a drizzle of oil, or a few spices like cumin seeds or a cinnamon stick to the Instant Pot.