In a saucepan, bring the water and basmati rice to a boil.
Reduce the heat to low, cover, and simmer for 15 minutes, or until the rice is cooked and the water is absorbed.
Remove from heat and allow to cool.
In a mixing bowl, combine the cooked and cooled rice with the fresh corn kernels, sliced black olives, diced red onion, diced red bell pepper, diced yellow bell pepper, diced orange bell pepper, and chopped cilantro.
Stir well to combine.
In a small bowl, whisk together the minced garlic, olive oil, freshly squeezed lime juice, and cumin to make the dressing.
Pour the dressing over the rice mixture in the mixing bowl and toss well to coat all the ingredients evenly.
Taste the Fiesta Rice Salad and adjust the seasoning or dressing amount if necessary.
Serve the vibrant rice salad as a side dish or a light meal, and enjoy the explosion of flavors and colors!