Wrap beets in parchment paper. Microwave at HIGH until tender (about 7 minutes). Let stand 5 minutes. Cut into 1-inch pieces.
Heat a saucepan over medium-high heat. Add olive oil, shallots, mustard seeds, ginger, cumin seeds, and carrot; cook 2 minutes. Add vinegar, black pepper, salt, and ground red pepper. Add beets. Sprinkle with cilantro.