In a bowl, combine milk, heavy cream, sugar, vanilla essence, and salt. Stir until well combined.
In a small bowl, dissolve the cornstarch with 3 tbsp of the milk mixture. Set aside.
Cook rice and water over low heat until the water has evaporated and the rice is cooked. Stir frequently.
Pour the milk mixture into the cooked rice and stir constantly until it boils and thickens. Add the cornstarch that has been dissolved and stir until the pudding is well combined.
Pour the mixture into serving glasses and refrigerate for several hours. Garnish with cinnamon powder before serving. Enjoy!