Here is the error I am getting when I choose the "Create new item and Update existing ones" and run import
SKU RDDBDZE152 - 1 SQLSTATE[HY000]: General error: 1366 Incorrect string value: '\x92ll we...' for column 'value' at row 1 - SKU RDDBDZE152 - 2 SQLSTATE[HY000]: General error: 1366 Incorrect string value: '\x92ll we...' for column 'value' at row 1 - ERROR ON RECORD #1
What this error mean ?
Well, found the reason behind this error. There was a special character in product description. Removed the special character and problem solved.