The first question that will come to your mind after reading this is why to convert a FAT32 partition to NTFS? Because there are certain advantages of using NTFS file system. If you have a 4 GB file on flashdrive or DVD then you cannot copy it to FAT 32 drives. It means capacity of a single file should be less then 4 GB if you want to copy it to a FAT32 file system.
Some other advantages of NTFS file systems as quoted by wikipedia are
NTFS has several improvements over FAT and HPFS (High Performance File System) such as improved support for metadata and the use of advanced data structures to improve performance, reliability, and disk space utilization, plus additional extensions such as security access control lists (ACL) and file system journaling.
So, to convert a FAT32 partition to NTFS follow these steps:
On Run type “cmd”. This will open command prompt.
Now type “convert (drive letter)/FS:NTFS
E.g. convert d: /fs:ntfs
After then it will ask for confirmation, press Y to confirm. You can also use this method to convert your flash drive’s FAT or FAT32 partition to NTFS. How long will it take to convert fat32 to NTFS will depend on your partitions size.
It would be better to first take a backup of your data and then convert :)