Clen and rinse the rice under running tap water.
Turn the saute button of Instant pot on. Add the oil and butter together and let it get hot.
When Instant pot displays hot add minced garlic and saute till it looks golden.
Add rice and stir it around for once and add water, tomato sauce, chili powder, and salt.
Stir it once and make sure that each grain of rice is covered with tomato liquid.
Place the lid on the Instant pot and make sure it's on seal is in position.
Pressure cook rice for 5 minutes and wait for 8-9 minutes to release the pressure manually.
After releasing the pressure manually, remove the lid.
Fluff the rice with the help of a fork and serve.