Hi, @Siddartha Pal
I understand that you are hosting the front app on portal.dev.site.io and the API on api.dev.site.io and need to resolve the CORS issue.
From the tag of this thread, is the API server hosted by App Service?
You can change the setting to output the Access-Control-Allow-Origin header to portal.dev.site.io by using the CORS function of App Service.
See the following link:
https://learn.microsoft.com/ja-jp/azure/app-service/app-service-web-tutorial-rest-api