How to build cocoa touch framework for all architectures dependent on other frameworks added using cocoapods?

So basically I found out that I just need to follow these simple steps.

1. Create a cocoa touch framework.
2. Set bitcode enabled to No.
3. Select your target and choose edit schemes. Select Run and choose Release from Info tab. 
4. No other setting required.
5. Now build the framework for any simulator as simulator runs on x86 architecture.
6. Click on Products group in Project Navigator and find the .framework file. 
7. Right click on it and click on Show in finder. Copy and paste it in any folder, I personally prefer the name 'simulator'.
8. Now build the framework for Generic iOS Device and follow the steps 6 through 
9. Just rename the folder to 'device' instead of 'simulator'.
10. Copy the device .framework file and paste in any other directory. I prefer the immediate super directory of both.

So the directory structure now becomes:

 - Desktop
   - device
     - MyFramework.framework
   - simulator
     - MyFramework.framework
   - MyFramework.framework

Now open terminal and cd to the Desktop. Now start typing the following command:

lipo -create 'device/MyFramework.framework/MyFramework' 'simulator/MyFramework.framework/MyFramework' -output 'MyFramework.framework/MyFramework'

and that's it. Here we merge the simulator and device version of MyFramework binary present inside MyFramework.framework. We get a universal framework that builds for all the architectures including simulator and device.

Now, creating a pod for this framework doesn't make any difference. It works like a charm. Please also note that there are run scripts available too to achieve the same functionality, but I spent a lot of time in finding the correct script. So I would suggest you use this method.