Wash and peel the carrots. Grate them using a coarse (thicker) side of a grater (recommended) or in a food processor (easier option).
Start the Instant Pot on saute mode (normal) and once it is hot add 2 tablespoon of ghee to it.
Once the ghee is hot, stir in the grated carrots and saute for 2 mins stirring intermittently.
Add milk and mix well. Close the lid with a vent in a sealing position. Cook on manual high (or pressure cook) for 3 mins.
Once the cooking is complete, do a manual steam release (quick release) and open the lid once the pin drops.
At this stage, the carrots are cooked but there is the liquid left that needs to be cooked off. Start the pot back on saute mode (normal).
Add in sugar, milk powder, cashews, raisins, salt, saffron, cardamom powder, and mix gently until well combined. You can also use almond meal, khoya in place of milk powder.
When you add the sugar, the halwa will get watery. Cook until the moisture evaporates.
Keep stirring intermittently and gently as possible to prevent the halwa from sticking to the pot.
Once most of the liquid from carrot halwa has dried, add the freshly crushed cardamom seeds and 1 tablespoon ghee.
Saute for 2 more mins and turn off the Instant Pot. Remove the stainless steel pot out of the Instant pot and keep it separately otherwise, the heat will continue to cook it further and make the halwa very dry.
Delicious, rich and melt in mouth Gajar Halwa is ready!! Serve warm garnished with more nuts or with side of ice-cream.