Close the lid of the instant pot and turn the steam vent to "SEALING".
Now start the instant pot on "Porridge" setting.
The porridge mode is preset at 20 minutes.
Let it sit for natural pressure release for 10 minutes minimum before opening the lid.
Then quick release the pressure for the rest.
Open the lid and give it a nice stir.
Add vanilla essence, nutmeg powder, cinnamon powder to the pudding.
Mash the rice lightly by pressing it with help of a spoon or ladle.
Add the chopped almonds and dry fruits.
Instant pot rice pudding is ready to serve.
Serve it hot or chilled.
Adjust sugar as per your taste. Rice to milk proportion works best in the "Porridge" setting in the instant pot. The pudding thickens a little when cooled. If you are cooking on Manual "Pressure Cook" mode for 5 minutes, you may consider reducing the milk to 1.5 cups. After cooking add more milk as required.Please note, the pudding turns thicker when it gets cooled. So don't panic if you see a milky/ watery pudding when you open the lid. Also mashing the rice slightly also makes the consistency of pudding thicker and creamier.