Turn on the Instant Pot and set it to Sauté setting.
Pour 2 tbsps of olive oil and drop in the cleaned mutton.
Add 1 tsp pepper powder and salt and saute on high heat until the meat is browned a bit.
Take out the mutton and keep aside.
Pour 1 tbsp of olive oil to the pan and drop in the onions.
Sauté it well. Pour a bit of water to deglaze the pan.
Add ginger garlic paste.
Drop in the potato and carrots which are cut in medium sized chunks.
Add the mutton back into the pan.
Add cumin, coriander, turmeric, pepper, bay leaf and salt. Mix well.
Pour the stock.
Close the lid of the IP and set it to meat stew setting. Set the timer for 25 minutes on high pressure.
After 25 minutes, let it sit for 10 minutes for the pressure to release completely. And turn the pressure knob to vent tor release all the pressure. Open the lid.
Pour coconut milk.
Add coriander leaves and serve.