Hello @kartik,
Change your file permissions like this
First check who owns the directory
ls -la /usr/local/lib/node_modules
It is denying access because the node_module folder is owned by root
drwxr-xr-x 3 root wheel 102 Jun 24 23:24 node_modules
so this needs to be changed by changing root to your user but first run command below to check your current user:
id -un
OR
whoami
then change owner
sudo chown -R [owner]:[owner] /usr/local/lib/node_modules
OR
sudo chown -R ownerName: /usr/local/lib/node_modules
Hope it works!!
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Thank you!!