Hi Satish,
Partner profiles are a prerequisite for data exchange. This involves defining who can exchange messages with the SAP system and using which port.
A partner profile specifies the components used in an outbound/Inbound process (the logical name of the remote SAP system, IDoc type, message type, and tRFC port), an IDoc's packet size, the mode in which the process sends an IDoc (batch versus immediate), and the person to be notified in case of errors.
A partner profile is created for each SAP system with which you communicate, and a record exists for each message sent and received from a system.
Transaction WE20.
For generating partner profile check the link
http://help.sap.com/search/highlightContent.jsp
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