Press the Saute button on your Instant Pot and add the diced onion. Saute for 5-7 minutes, or until the onion starts to turn yellow. Don't let it burn - if it starts to burn, turn off the saute function for a minute. Add the grated carrot and saute for 3 minutes. Add 1/2 teaspoon each ground cumin and ground coriander. Add 1/2 tablespoon salt. Mix well. Turn off the saute function.
Add 2 cups white rice and stir well. Add 2 cups of water (or vegetable broth) and stir well. Add 1/2 cup raisins, stir, and close the lid. Set the valve to "sealing."
Cook at High Pressure on the Manual setting for 5 minutes. Allow the pressure to release naturally for 10 minutes, then manually release the pressure. Fluff with a wooden spoon and serve hot.