Select sauté on the Instant Pot and adjust to normal. Add oil to the pot. When the oil is hot add in the cinnamon stick, cumin seeds, cloves, black cardamom pods, and whole dried red chili pepper. Additionally, let the whole spices sauté for a minute.
When the cumin seeds splutter add onions and ginger garlic paste. Moreover, let the onions turn golden, it should about 3 minutes. Keep stirring.
Next, add the goat pieces and sauté for about 8 to 10 minutes until the goat pieces turn brown. Keep stirring well.
Once the meat is browned, add in Kashmiri chili powder and water. Sauté and stir for a minute or two. Further, add in the ground turmeric, salt, ground fennel, dried fenugreek leaves (kasuri methi) to the pot and let it sauté for a minute or two. Give it a good stir.
Finally, make sure nothing is stuck to the bottom of the pot and scrape the bottom of the pot well. Press cancel. Secure the lid on the pot and close the pressure-release valve, and select manual and cook at high pressure for 40 minutes.
When cooking is complete, use natural pressure release to depressurize.
Open the lid, add in dry mango powder (amchur), and serrano peppers. Again, select sauté and let it sauté for a minute, until it comes to a boil, and keep stirring well to make sure that the spices are mixed well.
Press cancel and transfer the cooked meat in a serving bowl. Garnish with cilantro, and serve over steamed rice.