Wash, peel, and grate the carrots on the coarse side of a box grater until you have fine, even shreds.

Heat 2 tablespoons of the ghee in a heavy-bottomed kadai and sauté the grated carrots over medium heat, stirring frequently, until they soften slightly and the raw smell disappears.

Pour in the milk, bring it to a gentle boil, then lower the heat and simmer, stirring every few minutes, until the milk is almost fully absorbed and the mixture thickens.

Stir in the sugar and crumbled khoya, and cook over medium heat until both dissolve completely into the mixture.

Continue cooking the halwa over medium-low heat, stirring often, until it turns a deep glossy orange and starts to pull away from the sides of the kadai.

In a small pan, heat the remaining ghee and roast the cashews and almonds until golden, then add the raisins and roast briefly until they plump up.

Add most of the roasted cashews, almonds, and raisins to the halwa, reserving a few for garnish, and mix well to distribute them evenly.

Sprinkle in the cardamom powder and stir it through the halwa for a final minute to release its aroma.

Turn off the heat and let the halwa rest for a few minutes so the ghee resurfaces and the texture sets before spooning it into serving bowls.