Guys when will the IT hiring improve and return to late 2020/2021 levels. Any clues?

Those levels are called decadal / multi decadal peaks for a reason - we see them rarely. Also the euphoria was driven by the sentiment that, due to covid, everything we do or consume will be disrupted big time by tech irreversibly. Although there was an impact on several things but the euphoria was much more than what has materialized in reality. So to answer in short - we'll need a pandemic of similar proportions to see that kind of a job market.

Alexa play "kabhi nahi by Adnan Sami"

Probably never! Those hiring after covid were due to record low interest rates and many private equity invested in risky startups which inturn drive up the demand for workers. Unless central banks around the world started to decrease the rates again to those levels, we will never see such job market in our lifetime

Only in the next decade you’ll see those levels again.

I don't think it will return to levels seen in 2020/2021
https://www.business-standard.com/industry/news/indian-it-firms-set-for-washout-year-focus-now-on-2025-jp-morgan-123100500853_1.html#amp_tf=From%20%251%24s&aoh=16965882784956&csi=0&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.business-standard.com%2Findustry%2Fnews%2Findian-it-firms-set-for-washout-year-focus-now-on-2025-jp-morgan-123100500853_1.html