Pressure cook baby potatoes until tender, then peel and set aside.
Heat oil in a heavy-bottomed pan and fry the potatoes until golden brown on all sides. Remove and set aside.
In a bowl, whisk yogurt with Kashmiri red chili powder, ginger powder, fennel powder, salt, and garam masala until smooth.
In the same pan, heat 2-3 tablespoons oil and add cumin seeds, cinnamon, cardamoms, cloves, and asafoetida. Sauté until fragrant.
Add the yogurt mixture to the pan and cook on medium heat, stirring continuously to prevent curdling.
Add the fried potatoes to the gravy and gently mix.
Simmer on low heat for 15-20 minutes until the gravy thickens and coats the potatoes well.
Garnish with fresh coriander and serve hot with rice or naan.