Rinse 1 cup basmati rice, soak for 30 minutes, and drain. Toast ¼ cup cashews, almonds, and raisins in 1 tbsp ghee, set aside.
In 1 tbsp ghee, heat 1 bay leaf, 2-3 cardamom pods, cloves, cinnamon, ½ tsp cumin, ½ tsp fennel seeds, and 1-inch mace (optional). Sauté 1 sliced onion until golden, add ½ tsp grated ginger, and cook for another minute.
Add saffron soaked in warm milk, then stir in the soaked rice. Sauté for 2-3 minutes to coat the rice with spices.
Pour in 2 cups water/vegetable stock, add salt, bring to a boil, then reduce heat, cover, and cook for 15-20 minutes (or 1-2 whistles in a pressure cooker).
Let the rice rest for 5-10 minutes, fluff gently, and garnish with toasted dry fruits and pomegranate seeds.