Implement a Caching Mechanism for API Responses

[monilpat]

Is your feature request related to a problem? Please describe.

The current application experiences slow response times due to repeated data fetching from external APIs, which can lead to performance bottlenecks.

Describe the solution you'd like

Implement a caching mechanism to store and retrieve API responses efficiently. This can be achieved using a caching solution like Redis or Memcached to cache frequently requested data and reduce the load on external API calls.

Describe alternatives you've considered

Continuing to fetch data on every request, which results in slower response times and increased server load.

Additional context

Implementing caching will significantly enhance the performance of the application, providing a better user experience by ensuring faster load times and reducing the number of requests made to external APIs.

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