Start the instant pot in sauté mode and heat the oil in it. Add cumin seeds, green chili, curry leaves, garlic and asafoetida.
After the garlic turns light brown, add the chopped onions and cook for 2 minutes until the onions turn golden brown. Add tomato and spices and cook for another 2 minutes.
Add the washed dal and water. Place the trivet. In a bowl, add all ingredients for basmati rice and place it on top of the trivet. Close the lid with vent in sealing position.
Change the instant pot setting to manual or pressure cook mode at high pressure for for 5 mins. Using tongs, carefully take out the bowl of basmati rice. Then take out the trivet.
Garnish with cilantro and stir. Optionally, sprinkle the juice of half a lemon. Dal tadka is ready to be served.