The problem is that when you're importing a lot of records in mysql, it doesn't always behave nicely. It just zooms through the data, spewing out warnings for the records that have a problem. You can try 'show warnings;', but that only helps you with the last warning(s).
Buffer size should not be an issue here, unless you have a lot of large blob elements. If that's the case, the error log might say something about innodb log file size.
If the error log doesn't help, I would suggest that you try to split your input into several smaller chunks so that you can dig through them to find the records that are causing the problem.
I don't know what crore and lakh means, so I can't comment on the numbers.
Is the file exported by the same mysql that you try to import it into, or from another version of mysql? There could be some version incompatibilities.