How to use Renv package management when working with Shiny project (as a package)

Hi all,

I have created a new shiny project as a package as shown below

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Inside renv folder, why I do not see library folder

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I tried to initialise renv using renv::init(), I get the below options and do not know how to use it

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As per my understanding, once renv is initialised, the .libPaths() will point to project directory (eg, G:/Trading/pca/renv/library/~~~~) . But here it is not happening . Can anyone explain me?