This file is almost 1GB (the compressed version is 90MB as you can see in the hyperlinked file).
Exporting this zip file and importing the 1GB takes >50 minutes.
It has taken 20 minutes to complete 25% of import.
Which is too time consuming, is there any faster way to do this?
Since the input file is in a non-BSON format, it needs to be converted into BSON while importing, which is where most of the time is spent. Also, mongoimport is a single threaded operation. The simplest way to expedite is to split the file into multiple input chunks and run the import operation parallelly against each input chunk.
Note: The no. of parallel processes should be less than the no. of logical CPU Cores on the machine, as each process will run on a single core.