Not sure how you'd do this from Python, but you can fire up sqlite3 from the command line and run

    .mode csv
    .import filename.csv table_name

On my 2-year old Windows laptop (i7, lenovo x1) importing a 2M rows 1.4GB file takes about ~70 seconds.

So not 10 seconds but no need to create an insert statement (I'm sure you can access this functionality from python if you need to)