I want to add approval status in the workflow, followed by proper approval process, adding approvers, auto changing the status to approved/declined basis what is selected by the approvers.
so you posted this question in Jira Service Management but asked about Jira. I am going to assume you mean JSM and for that I would refer you here - what-are-the-differences-in-classic-and-next-gen-approvals . You can navigate to the appropriate docs from that page.
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