you need to replace the setup.py file content with this content in order to solve the utf-8 error

from setuptools import setup, find_packages

Safe read with UTF-8 encoding

with open('README.md', 'r', encoding='utf-8') as f:
long_desc = f.read()

setup(
name='paramspider',
version='0.1.0',
author='Devansh Batham',
author_email='devanshbatham009@gmail.com',
description='Mining parameters from dark corners of Web Archives',
packages=find_packages(),
install_requires=[
'requests',
'colorama'
],
entry_points={
'console_scripts': [
'paramspider = paramspider.main:main'
]
},
license='MIT',
long_description=long_desc,
long_description_content_type='text/markdown'
)