How to fix the errror " Binding element 'children' implicitly has an 'any' type.ts " for giving props to component in .tsx file?

Question

I have written the code to make "Read more" functionality in ".tsx" file for my project. The code is:

const ReadMore = ({ children }) => {
    const text = children;
    const [isReadMore, setIsReadMore] = useState(true);
    const toggleReadMore = () => {
      setIsReadMore(!isReadMore);
    };
    return (
      <ResponsiveHeading.P className={classes.lighterFont}>
        {isReadMore ? text.slice(0, 120) : text}
        <span onClick={toggleReadMore} className={classes.readMoreLink}>
          {isReadMore ? 'Read more' : 'Show less'}
        </span>
      </ResponsiveHeading.P>
    );
  };

Now, I am getting this error for the "children" prop in first line of code I showed above.Error is:

Binding element 'children' implicitly has an 'any' type.ts

How do I fix this?