Add milk and rice to a large pot. Bring to boil, about 3 minutes, and let it simmer on low heat for 40 minutes while stirring often.
Add sugar and keep stirring, about 5 minutes.
Add the remaining ingredients and let it simmer while stirring for another 8 – 10 minutes.
Place in serving bowl and top with slivered almonds for garnish. Let the kheer cool down to room temperature before putting it in the fridge. Serve cold.
NOTE:
For some, the kheer might not be as thick as you want it after 50 minutes of cooking time. I found that it naturally thickens further once you place it in the fridge, and personally, I prefer my kheer to retain some creaminess. If you want your kheer to be thicker, let it simmer for an hour or more while stirring constantly.