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ImportError: Missing optional dependency 'xlrd' | Convert xls to xlsx | Python

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In this video tutorial I will show you how to convert xls to xlsx in python. initially I installed pandas. After running the program I got this following error.
ImportError: Missing optional dependency 'xlrd'. Install xlrd greater than = 1.0.0 for Excel support Use pip or conda to install xlrd.
How to fix it?
ImportError: Missing optional dependency 'xlrd'. Install xlrd greater than = 1.0.0 for Excel support Use pip or conda to install xlrd.
How to fix it?