Add the milk and carrots to the steel insert of your instant pot and close the lid. Make sure the steam release vent is on 'sealing', then press the pressure cooking button (high). Set the timer to 5 minutes. Once the timer beeps do a natural release.
When the pot opens, switch to sauté and cook the carrots until all the milk has been absorbed.
Add the ghee, sugar, ground cardamom, ground almonds and cashews, cloves, and coconut flakes. Roast the halwa with a wooden spoon, stirring all the time. Do this until the ghee leaves the sides and the halwa becomes dark orange and glossy.
Garnish with slivered almonds and serve warm.
Make sure the grated carrots are tightly packed to get an accurate measure.
Pure ghee is available in Indian stores. It is semi-solid at room temperature. Measure half a cup of ghee in this semi-solid state, and make sure to pack it tightly in the cup to give an accurate measure.
Make sure all the milk is absorbed by the carrots before adding ghee and the rest of the ingredients.
Grind the cardamom seeds, almonds and cashews together to save time.