Blend the tomatoes, red bell pepper, garlic, and ginger until smooth. Heat oil in a large heavy-bottomed pot over medium heat. Add chopped onion and cook until softened and fragrant.
Stir in the tomato paste and cook for several minutes to deepen the flavor. Pour in the blended tomato mixture and cook uncovered until thick and slightly reduced, stirring occasionally. The oil should begin separating from the sauce.
Add thyme, curry powder, paprika, bay leaf, salt, black pepper, and chili. Stir well to bloom the spices in the hot sauce.
Rinse the rice until the water runs clear. Add it to the pot and stir thoroughly so every grain is coated in the tomato base.
Pour in the broth and stir gently. Bring to a low simmer, reduce heat to medium-low, and cover tightly with a lid or foil. Allow the rice to steam undisturbed for about 25 minutes.
Check for doneness. If needed, add a small splash of broth and continue steaming briefly. Once tender, turn off the heat and let the rice rest covered for 5–10 minutes.
Fluff gently with a fork before serving. Garnish as desired and serve warm.