New Post: Works brilliantly from SSDT 2012 but not with DTEXEC on the same workstation

Hi All,
I am hoping somebody can help me. I am doing a PoC with the SharePoint List adapter. I could get this to work from Visual Studio 2012 (SSDT) designer. However, when I execute the same package from command line using DTEXEC.EXE the error message shown on the CMD console is

Error: 2014-06-25 14:18:03.10
   Code: 0xC000F427
   Source: Data Flow Task SSIS.Pipeline
   Description: To run a SSIS package outside of SQL Server Data Tools you must install SPList001 of Integration Services or higher.
End Error

Here the 'SPList001' denotes the name of my SharePoint List source component on the Data Flow tab

I am aware that SSIS Integration Services is required for things like Script components. Is it a must that I have SSIS Integration Services installed on my workstation?

thanks,
Saurabh