Set the Instant Pot to “sauté” mode at “normal” and add the oil to the pot. Add the onions and sauté until translucent, about 3-4 minutes. To the pot, add the hot pepper, garlic, ginger, lemon peel, cumin, coriander, turmeric, and curry powder. Stir to combine. Keep stirring and cooking the onion and spice mixture for 4-5 minutes, or until spices appear slightly darkened and are quite fragrant.
Add the crushed tomatoes to the pot and stir, scraping up any browned bits on the bottom of the pot. Let this mixture come to a boil. Add the chickpeas, water, salt, and pepper and stir one more time. Cancel the sauté function.
Lock the lid on the Instant Pot and ensure that the valve is in the “sealing” position. Set the Instant Pot to pressure cook on manual mode (at “normal” temperature). Set the timer for 6 minutes. Once the time is up, let the pressure release naturally.
Remove the lid from the Instant Pot and stir the chana masala. If you’d like it to be thicker, set the machine to “sauté” mode and simmer until it is reduced to your liking. Adjust the instant pot chana masala for seasoning and serve immediately with chopped cilantro, rice, flatbread etc.