Getting an error while adding react-dropdown in perspective module

I am trying to add a component in prespective similar to react-dropdown while creating a custom module.
i am able to add Text Field, Button etc where there is no dependency but as soon as i add the dependency for react-dropdown it gives me an error “ERROR in ./typescript/components/Increment.tsx
Module not found: Error: Can’t resolve ‘react-select’”.

Full text of the error is as below:

ERROR in ./typescript/components/Increment.tsx
Module not found: Error: Can’t resolve ‘react-select’ in ‘D:\react\perspective-component\web\packages\client\typescript\components’
@ ./typescript/components/Increment.tsx 9:23-46
@ ./typescript/rad-client-components.ts
Child mini-css-extract-plugin …/…/…/…/…/…/…/…/reac\ignition-sdk-examples-master\perspective-component\web\node_modules\css-loader\dist\cjs.js??ref–5-1!../…/…/…/…/…/…/…/react\ignition-sdk-examples-master\perspective-component\web\node_modules\sass-loader\lib\loader.js??ref–5-2!../…/…/…/…/…/…/…/react\ignition-sdk-examples-master\perspective-component\web\packages\client\scss\main.scss:
Entrypoint mini-css-extract-plugin = *
[…/…/node_modules/css-loader/dist/cjs.js?!../…/node_modules/sass-loader/lib/loader.js?!./scss/main.scss] D:/react/ignition-sdk-examples-master/perspective-component/web/node_modules/css-loader/dist/cjs.js??ref–5-1!D:/react/ignition-sdk-examples-master/perspective-component/web/node_modules/sass-loader/lib/loader.js??ref–5-2!./scss/main.scss 1 KiB {mini-css-extract-plugin} [built]

Please help me in resolving this issue. i am not getting any relevant help on internet searches also.

Thanks,
Vijay Gupta,
vgupta@optebiz.com,
OpteBiz Inc.
Taledo, OH USA