Hi @BhanuPratap_Harsh ,
welcome to the Atlassian community!
In order to be able to create a project, you need to have Administer JIRA gloab permission (https://support.atlassian.com/jira-cloud-administration/docs/manage-global-permissions/)
This is for company-managed projects (https://support.atlassian.com/jira-cloud-administration/docs/create-and-edit-a-project/), for team-managed projects you must have Create team-managed projects global permission.
Hope this helps,
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