I have a git repositories that is very large [larger than 1 GB] and there is always issue when we have to setup the repositories on new local instance. Is there any proven approach so that we can solve this issue?
Set up a "depot" clone repository with old history that won't change in it on a shared filesystem. Do all your further clones --reference that repo and its contents won't be duplicated to the new clones. Read the clone docs to see usage advice for this, e.g. what to do before losing (or if you might lose) access to your reference depot.