If using Instant Pot, turn it to saute mode, and add the olive oil until hot. If using a regular saucepan, do the same thing on medium high heat. Add the beef cubes, and cook stirring occasionally until browned.
Add the water, the seven spices, cinnamon powder, salt, black pepper and cumin powder, then the diced onion and bay leaf. If making in the Instant Pot, add the tomato paste, and stir to combine, then turn pressure to high for 25 minutes. Make sure valve is sealed). After cook time is over, let the pressure naturally release for 10 minutes before venting remaining pressure and opening the Instant Pot.
If using a regular saucepan, boil the meat until completely cooked before adding the tomato paste. This will take about 1 hour on a high simmer.
While the meat is cooking, prepare the sauteed garlic and coriander. Heat the olive oil in a small skillet on medium high heat, then add the garlic and coriander. Stir and cook until garlic turns golden and coriander wilts, then set aside.
Once the meat has cooked through, switch Instant Pot to saute function and add the frozen peas and carrots, and the extra bag of frozen peas. Saute for 10-15 minutes or until peas and carrots are cooked through and tender. Stir in the sauteed coriander and garlic mixture, and serve with vermicelli rice.