Heat the oil in a deep bottomed pan. Add the chilies and panch phoran mix. Cook till the seeds begin to splutter.
Add the ginger, cumin and sugar, and cook for a few more minutes.
Add the tamarind paste, along with the beets, raisins, salt and 2 cups water. Cover and cook on medium-high heat till the beets are really tender, and most of the liquid has been absorbed (around 35-40 mins). Make sure the mixture is not completely dry. Add a little water if needed.
Cool and blend till smooth. Store in an airtight container (will easily last up to a week)
Enjoy this sweet & spicy chutney on crackers, breads, dosas, in salads or even over eggs!