Select sauté on the instant pot. Let the sabudana sauté for about 3 minutes in the 1 cup of water until the pearls become translucent. Keep stirring to prevent the pearls from sticking to the bottom of the pot.
When 3 minutes are up, add in milk and saffron. Stir well.
Select cancel. Close the lid and select manual/high pressure for 4 minutes with the pressure valve sealed.
When done let the pressure release naturally for 8 minutes after which quick release the pressure manually.
Open the lid, add in the sugar, cardamom powder, raisins, cashews and pistachios. Select sauté and let the kheer sauté for 2 to 3 minutes. Keep stirring.
When the required consistency is reached press cancel and transfer in a serving bowl.