what do I need to do to reduce the time
Download 2.83 beta (or 2.90) and enable Adaptive Sampling here:

Makes a huge difference!
So. I rendered Frame 107 with your settings on my computer in 10 min 45 sec.
The same frame with Adaptive Sampling and a Tile Size of 64 rendered in 7 min 40 sec.
When reducing the Samples from 64 to 32, you lose a little bit of quality but it renders in just over 5 min:

So, you can halve the render time maybe, but this is how it is: rendering takes time! Especially when rendering animations. even 2 min per frame and 30 frames per second means a render time of 1 hour per second of animation…
This is why they invented render farms I guess;)