React Native Integration with existing ios App: CocoaPods could not find compatible versions for pod "React/RCTText"

Question

I am following the React Native official guide(https://reactnative.dev/docs/integration-with-existing-apps) to integrate with an existing ios App and trying to add dependencies in podFile as shown below:

pod 'React', :path => '../node_modules/react-native', :subspecs => [
    'Core',
    'CxxBridge', # Include this for RN >= 0.47
    'DevSupport', # Include this to enable In-App Devmenu if RN >= 0.43
    'RCTText',
    'RCTNetwork',
    'RCTWebSocket', # needed for debugging
    # Add any other subspecs you want to use in your project
  ]
  pod "Yoga", :path => "../node_modules/react-native/ReactCommon/yoga"

My React Native version is 0.68.2

When I do: pod install -repo-update it throws me this error:

[!] CocoaPods could not find compatible versions for pod "React/RCTText":
  In Podfile:
    React/RCTText (from `../node_modules/react-native`)

None of your spec sources contain a spec satisfying the dependency: `React/RCTText (from `../node_modules/react-native`)`.

You have either:
 * mistyped the name or version.
 * not added the source repo that hosts the Podspec to your Podfile.

What is going wrong here? Can someone help me understand this issue?