gm conversion issue in node.js

I am converting an image from jpg to png, but it is giving the error. Below is the code and error.

gm('E:/image1.jpg').write('E:/image2.png', function(err){
        if (err){
            console.log(err);
        } else{console.log('image converted.')}
    })

The error is:

[Error: Could not execute GraphicsMagick/ImageMagick: gm "convert" "E:/image1.jpg" "E:/image2.png" this most likely means the gm/convert binaries can't be found]

Do I have to npm graphicsmagick and imagemagick?