I am trying to run the app on my Android 10 device from the Android Studio and the following error is shown –
10/17 09:16:05: Launching 'app' on Physical Device. Installation did not succeed. The application could not be installed: INSTALL_FAILED_OLDER_SDK List of apks:  'C:UsersWELCOMEAndroidStudioProjectsBottomNav2appbuildoutputsapkdebugapp-debug.apk' The application's minSdkVersion is newer than the device API level. Retry
I think I have to change the minSdk value, but in which file and how to do it?
The device you are using has lesser API than minimum required API set by you. So, either you can create another physical device with API 30, or you can create another project with lesser API.
If you wish to change it in the already existing project, you can go to
build:gradle(app). There under
default config, you will find
minSDKVersion, you can change it from there and then sync project with gradle files. You will see the
sync button on top right of the editor after making changes.