So this is what I have learnt so far. Correct me if I am wrong.

1. React is a UI library developed by Facebook. Meaning it's the V in the MVC.
2. It uses the concept of Virtual DOM which makes it extremely fast.
3. Everything in React is a component. Components are nothing but a portion of the DOM.
4. There are props and states. While a prop cannot be changed, a state can be changed at runtime.
5. There are different lifecycle events of a component - 7 exactly, which gives more control to the programmer to manipulate the component rendering.
6. React is best for SPAs which is achieved by Router, Switch, Link etc components.

I shall break down the points further soon.

In brief, it's good as it doesn't seem too difficult, but I have heard Redux is quite complicated. So fingers crossed.