Preheat the oven to 400°F.
Place the shrimp in a bowl. Add the turmeric & red chili powder to it and mix well. Keep it aside. Heat oil in large heavy pan. Add the onions and fry until browned. Remove & drain the excess oil on paper towels. Put the almonds and raisins and fry until almonds are golden brown. Add cinnamon, cloves, bay leaves, cardamoms & peppercorns in the same pan and fry for few minutes. Then add the marinated shrimp and salt and stir well. Add the rice, canned coconut milk & 2 cups of water. Cover and lower the heat. Cook for about 10 minutes. Stir occasionally to prevent the mixture from sticking to the pan. Then add the peas and mix thoroughly. Remove from heat.
Reduce the oven heat to 300°F, cover and bake the shrimp rice for 10 minutes or until all the liquid is absorbed. Garnish with fried onions. Serve hot with any raita, mint or coriander chutney.