Basmati rice is aromatic long grain rice that has a slightly nutty flavor to it. You can tell when this type of rice is cooked properly because the grains don't stick together. Briefly soaking the rice in cold water allows the rice to absorb some water, which helps keep it soft and reduces starch, which can make it sticky.
Soak the basmati rice in cold water for 15-30 minutes. Drain, rinse and set aside.
Press the sauté button and allow the pot to heat up for a minute. Then add the oil and swirl it around the pot. This will help ensure that the rice doesn't stick. Add the rice, water and salt to the pot and mix well.
Secure the lid, close the pressure valve and cook for 6 minutes at high pressure.
Naturally release pressure for 10 minutes. Open the valve to release any remaining pressure.
Fluff the rice with a fork and serve.
Notes
There are several types of basmati rice and so you may have to adjust the time according to the brand you use. I typically use organic basmati rice or Aahu Barah basmati rice (our favorite!) and the method below results in perfectly cooked rice.