Press SAUTE button. Add one tablespoon of ghee into the pot, once hot add cashews, and stir fry till they are light golden brown. Remove and keep aside.
Add the shredded beetroot and Saute with the leftover ghee for about 3-4 minutes till the raw smell disappears.
Next, add milk into the pot, close the lid, and turn the pressure valve to the SEALING position.
Set the pot to MANUAL/PRESSURE COOK (High Pressure) and set the timer to 4 minutes and When the instant pot beeps, Quick Release the pressure. Open the lid.
Add sugar, almond flour, raisins, and remaining ghee. Mix well.
Turn the Instant Pot to Sauté (High) and cook for 6-8 minutes until all the liquid is mostly absorbed (evaporated) and ghee separates from halwa.
Add cardamom powder, roasted cashew nuts, and mix well.
Serve instant pot pressure cooker beetroot halwa warm or cold and garnish with some pistachios.