That's not a fault of the rice. I would guess that any method to dry it out would have yielded the same result. The damage comes from the liquid.
@Adnan fiaz you didn't mention what type of phone you have, but if it's an older or budget model, I would use the uncooked rice method, but I would go further that what's been suggested. I would keep in in the bag of rice for 72 hours at least and change the rice after 24 hours and again after 48. Under NO circumstances try to power on or charge the phone until 72 hours has passed, or you could cause more damage.
If after all that the phone still won't power on, then you have to ask yourself how far you are willing to go to recover your data with the understanding that it might, in the end, not be possible.