Turn on the Instant Pot with the "saute" setting on high. Add oil and when it shimmers, add the bay leaves, cinnamon stick, mustard seeds and cumin seeds. Saute for 30 seconds or until the mustard sputters.
Add the onions and a pinch of salt.
Stir in curry leaves. Saute for five minutes until the onions are soft and beginning to brown.
Add ginger garlic paste and mix it in.
Add ground coriander, ground fennel, turmeric and cayenne. Mix well.
Stir the rinsed and drained jackfruit into the other ingredients in the Instant Pot.
Pour half the coconut milk in the pot and a cup of water. Turn off the Instant Pot, put the lid on, and set the IP to cook on high pressure for 15 minutes.
Ten minutes after cooking has ended, turn the knob to vent. Once all pressure has released, open the lid.
Stir in the garam masala and the remaining coconut milk. You don't have to turn the Instant Pot back on - the residual heat is enough to warm the coconut milk through.
Check seasoning and add more salt if needed. Fish out and discard the cinnamon stick and bay leaves. Garnish the curry with cilantro and serve hot or warm.