Cannot Install Cocoapods – No podfile found in the project directory

Steps to add CocoaPods to manage dependencies in your project:

1. sudo gem install cocoapods -> This installs CocoaPods as a piece
   of software on your machine.

2. Go to the root of your project directory and execute pod init ->
   This will add a base Podfile to your project.

3. Add the external dependencies that you have to this Podfile by editing it.

4. Run pod install which will fetch all the external dependencies
   mentioned by you, and associate it with a .xcworkspace file of
   your project. This .xcworkspace file will be generated for you if
   you already do not have one.

From here on, you should use .xcworkspace file instead of .xcproject / .xcodeproj.

Example Podfile Syntax:

target 'MyApp' do   
pod 'AFNetworking', '~> 3.0'
end

Where AFNetworking is the pod and 3.0 is the specific version that I want to install.

Documentation: Using CocoaPods