In a fine mesh strainer, rinse the rice in cold water for about 30 seconds.
Put the strainer full of rice in a medium bowl and fill the bowl until the rice is covered. Soak for about 15 minutes.
While rice is soaking, heat 1/2 of the oil in a pan on medium heat for about 1-2 minutes and add the anise, cardamom, cinnamon, cloves, and cumin seeds. You can also do this step in the Instant Pot on 'saute'.
While stirring pretty much constantly, heat the spices until you start to smell them about 5 minutes then turn off the heat.
Take the strainer out of the soaking water, add to the Instant Pot and dump the soaking water.
Add all of the ingredients to the pressure cooker except the last bit of oil and the cashews and then set you Instant Pot to 4 minutes at high pressure.
Allow to cook and then once complete, allow to cool for 10 minutes with out releasing the pressure.
While the rice is cooking, heat the remaining 1/2 tbsp of oil the pan for a minute or so on medium heat then add the cashews toast. Stir for about 2-3 minutes until toasted and then turn off the heat (mine are a bit over toasted in the pictures).
After the 10 minute cool down on the rice, release the pressure and serve with cashews on top.