Make the Paneer from the milk. Please refer to my detailed post here to see how to make homemade paneer.
Once the paneer is drained enough that there is no excess liquid and yet it is slightly wet to touch, add the maida, baking powder, and cardamom powder to it and knead well for about 10 to 15 mins to get smooth, soft dough.
Meanwhile to make the sugar syrup, heat the sugar and water in a heavy bottom pan in medium heat. Once the sugar is dissolved and it boils, simmer the syrup until it reaches a sticky consistency. Now add the food coloring (optional) and the cardamom powder and then turn off the flame. Keep the syrup covered until the jalebis are ready.
Divide the dough into 15 small balls and then roll it into a thin long cylinder.
Now shape the cylinder in the form of jalebi (spirals) and arrange them on a plate.
Heat oil in a deep Kadai and fry the jalebis in low heat to golden brown color. Drain it on paper towels.
Immediately soak the jalebis in the warm sugar syrup. Repeat the same for the rest of the dough.
Cover the sugar syrup and let the jalebis stand in it for a couple of hours.
The jalebi would absorb almost all the syrup and it is now ready to be served. Serve it at room temperature or cold.