Heat the ghee and when it shimmers, add the raisins and cashews. Stir and cook in the ghee until the cashews are lightly browned and the raisins are plumped.
Add rice, milk, sweetener, and water and cook on high pressure for 15 minutes. Allow it to release pressure naturally, as this is when a lot of the caramelizing will occur.
Open it and don't freak out at the curdled milk. Stir until it's well-mixed, adding half and half a little at a time to thin it out. By this time, you will have a smooth, non-curdled kheer.
Add the cardamom and chill overnight. You can eat it hot but really it's so much better the next day.
Each serving is about 1/2 cup.
It is ok for it to look curdled! You want this. Stir it all together after the Instant Pot comes to pressure.
If you have pistachios or cranberries, those would be fine to substitute as well.
It can be served hot or cold, but I prefer it to cool and thicken and then enjoy it!