Place rice in a medium bowl, and cover with 4 cups of the water; let soak, uncovered, for 20 minutes.

Meanwhile, heat ghee in a medium Dutch oven over medium. Add onion, and cook, stirring occasionally, until lightly browned, about 7 minutes. Add ginger and garlic; cook, stirring often, until fragrant, about 1 minute. Stir in salt, black pepper, cumin seeds, chile powder, garam masala, turmeric, and cardamom pods; cook, stirring constantly, until spices are fragrant, about 1 minute. Add carrots, zucchini, and bell pepper; stir until coated with spice mixture. Gently stir in paneer.

Drain rice, and stir rice into vegetable mixture in Dutch oven; stir in remaining 1 1/2 cups water. Cover and cook over low, undisturbed, until vegetables are tender and rice is cooked, about 20 minutes. Remove from heat, and let stand, covered, for 5 minutes. Stir in cilantro, and serve.