Hi, rajan jolly!
You know, it actually depends upon what you mean by 'racism.' You could be referring to bigotry (and its precursor, prejudice), which is quite different from racism, even if you are talking about so-called "races."
Social justice activists will tell you that 'racism' has a precise, technical meaning, at least in the United States, where I am communicating to you from. Racism is understood to be: the ability of a dominant power group to take a prejudice that has historically flowed from that group to one that has been traditionally the recipient of it -- and degrade the quality of the day-to-day life of the latter group because they, the former, hold that prejudice.
"Racism," in this sense, then, has concrete economic, social, and political consequences for the targeted group. We often refer to 'institutional racism.' If that is what you mean by 'racism,' we would have to answer that question by comparing series of data between different periods, say the late 1960s and today, and if we were to consider African Americans, looking at data for housing access, employment access, unemployment rates relative to whites, outcomes in the criminal justice system, and other things, the results would come back as a "mixed bag" at best -- AT BEST!
If you are talking about the expression of prejudice, manifested in bigotry like, say, if you see a black man walking down the street, will you automatically get on the other side of the street? If you're talking about that kind of thing, I would say yes, this kind of bigotry is on the decrease in the United States -- it can't help but be on the decrease, as we are such a multi-cultural society, and the cross-pollination on numerous fronts seems to be increasing everyday.