Peel and grate carrots. Dry roast the nuts and chop once cooled.
In a heavy bottom pan, brink milk and water to boil. Add grated carrots and cooked on medium heat stirring often to avoid burning. Let the mixture cook for at least an hour on low heat.
When milk completely evaporates, add sugar and stir well. This will add moisture to the mix. Cook until the mixture thickens a bit.
Add ghee and saute until moisture evaporates completely and Halwa thickens. Sprinkle cardamom powder and mix well.