React Webpack4 Babel

.babelrc

{
    "presets": [
        ["env", {
            "targets": {
                "browsers": [
                    "> 1%",
                    "last 2 versions"
                ]
            }
        }],
        "stage-2",
        "react"
    ],
    "plugins": [
        "syntax-dynamic-import"
    ]
}

package.json

{
  "name": "test",
  "version": "1.0.0",
  "description": "",
  "main": "index.js",
  "repository": "",
  "dependencies": {
    "prop-types": "^15.6.1",
    "react": "^16.4.0",
    "react-dom": "^16.4.0",
    "react-redux": "^5.0.7",
    "react-router": "^4.2.0",
    "react-router-dom": "^4.2.2",
    "redux": "^4.0.0",
    "redux-form": "^7.3.0"
  },
  "devDependencies": {
    "autoprefixer": "^8.5.1",
    "babel-core": "^6.26.3",
    "babel-loader": "^7.1.4",
    "babel-plugin-syntax-dynamic-import": "^6.18.0",    
    "babel-preset-env": "^1.7.0",
    "babel-preset-react": "^6.24.1",
    "babel-preset-stage-2": "^6.24.1",
    "css-loader": "^0.28.11",
    "file-loader": "^1.1.11",
    "postcss-loader": "^2.1.5",
    "style-loader": "^0.21.0",
    "url-loader": "^1.0.1",
    "webpack": "^4.9.1",
    "webpack-cli": "^2.1.4",
    "webpack-dev-server": "^3.1.4"
  },
  "scripts": {
    "test": "echo \"Error: no test specified\" && exit 1",
    "start": "rimraf dist && webpack --mode development --progress --profile --color"
  },
  "author": "Pradeep Vattikuti",
  "license": "ISC"
}

webpack.config.js

const path = require("path");
const autoprefixer = require("autoprefixer");

console.log("Output path:", path.resolve(__dirname, "dist"));

module.exports = {  
    devtool: "cheap-module-eval-source-map",
    entry: "./Scripts/index.jsx",
    mode: "development",
    output: {
        path: path.resolve(__dirname, "dist"),
        filename: "bundle.js",
        chunkFilename: "[id].js",
        publicPath: ""
    },
    resolve: {
        extensions: [".js", ".jsx"]
    },
    module: {
        rules: [
            {
                test: /\.(js|jsx)$/,                
                exclude: /node_modules/,
                use: {
                    loader: "babel-loader"
                }
            },
            {
                test: /\.css$/,
                exclude: /node_modules/,
                use: [
                    { loader: "style-loader" },
                    {
                        loader: "css-loader",
                        options: {
                            importLoaders: 1,
                            modules: true,
                            localIdentName: "[name]__[local]__[hash:base64:5]"
                        }
                    },
                    {
                        loader: "postcss-loader",
                        options: {
                            ident: "postcss",
                            plugins: () => [
                                autoprefixer({
                                    browsers: [
                                        "> 1%",
                                        "last 2 versions"
                                    ]
                                })
                            ]
                        }
                    }
                ]
            },
            {
                test: /\.(png|jpe?g|gif)$/,
                loader: "url-loader?limit=8000&name=images/[name].[ext]"
            }
        ]
    }
};