Old story about India at back of Republican magazine (10)
I believe the answer is:
repository
'magazine' is the definition.
(thesaurus)
'old story about india at back of republican' is the wordplay.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'about' means one lot of letters goes inside another.
'india' becomes 'i' (phonetic alphabet: alpha, bravo, charlie etc.).
'at back of' means one lot of letters go next to another.
'republican' becomes 'rep' ().
'story' going around 'i' is 'sitory'.
'o'+'sitory'='ository'
'ository' put after 'rep' is 'REPOSITORY'.
(Other definitions for repository that I've seen before include "dump?" , "Storage place" , "cabinet" , "Warehouse" , "Box containing items for safekeeping" .)