Add the olive oil to the Instant Pot® and press the ‘saute’ button. Add the onion and carrots to the pot and saute for 3 minutes.
Then add the rice to the bowl and stir. Let the rice toast for 4 minutes, stirring occasionally
Turn the Instant Pot® off and then add the remaining ingredients. Stir and then place the cover on the Instant Pot®. Set the steamer valve to ‘seal’ and then press the ‘manual’ button. Set the pressure to high and the timer to 10 minutes.
Once the timer is done, let the Instant Pot® naturally release the pressure by letting the pot sit for about 15 minutes, un touched. Then, open the lid and serve the rice while hot!