Add the carrots, milk and water to the pot. Secure the lid, close the pressure valve and cook for 1 minute at high pressure.
Open the valve to quick release any remaining pressure.
Press sauté and add the sugar. Stir for 6-7 minutes, or until most of the liquid has reduced. Then, add the ghee and stir-fry the carrots for another 6-7 minutes, or until the carrots become dry and the ghee separates from the mixture. The carrots should look dark orange/reddish in color.
Add the cardamom, mix well, then garnish with chopped nuts.