Set the instant pot to sauté and add the oil. Once the oil is hot, add the meat. Sauté for 5 minutes to brown the outside of the meat.
Add the minced garlic and diced onion. Sauté for 3 minutes.
Add the broth to deglaze the instant pot liner, and then add the cubed potatoes, carrots, tomato paste, and spices. Close the lid and seal the pressure valve. Cook on high for 30 minutes.
Manually release pressure when finished.
Mix cornstarch with 2 teaspoons of water to create a slurry. Stir slurry into the hot stew to thicken.