It's preferable to use risotto rice such as arborio, carnaroli, or Vialone Nano to achieve the characteristic creaminess that risotto is known for. There really isn't a replacement. If you use basmati rice, jasmine rice, or another type of rice not suited to risotto, you'll have a delicious rice dish or pilaf, but it won't be risotto. However, you can call it whatever you want! There are all sorts of "risotto" variations.