Measure the rice into a strainer and rinse well. Set aside and let drain.
Set the Instant Pot to saute and add the butter and/or olive oil.
Next, add the rice, ginger, curry, red pepper and salt. Stir and cook for 30 seconds to a minute to release the flavors of the spices.
Add the chicken or vegetable broth, coconut milk and the sugar. Stir well to blend.
Put the lid on the instant pot and set to seal. Cook the rice on high pressure for 3 minutes. Then, leave on natural release for 10 minutes.
After the 10 minutes, carefully switch the valve to vent and wait for pressure to release. Open the lid and add the lime juice, fresh parsley, and the tomatoes. Stir well and serve.
*The amount of liquid might need to be adjusted based on the brand of Basmati rice. You can easily add more chicken broth, coconut milk, or even water. *If you use any rice other than Basmati, compare the rice to liquid ratio on your package and adjust the recipe if necessary.