I am using Wampserver (32 bits & PHP 5.5) 2.5. phpmyadmin inside of it is allowing me to import database of max 128mib and execution time is low.
In WAMPServer
You need to increase following values in php.ini file and restart the WAMP Server
memory_limit post_max_size upload_max_filesize
Make sure the value of upload_max_filesize is smaller than post_max_size.
Hop this helps.