Drain soaked rice. Bring milk to a gentle boil in a heavy-bottomed pan.
Add rice, reduce heat to low and simmer, stirring occasionally so milk doesn’t stick. Cook until rice is soft and milk thickens (30–40 min).
Add sugar, cardamom and saffron; simmer 5 more minutes. Stir in nuts and ghee; remove from heat. Serve warm or chilled.
Tip: Gobindobhog’s small grains break down a little and lend natural creaminess — stir occasionally (not continuously) to let it thicken without becoming pasty.