Sash originally bought in old India (3)
I believe the answer is:
obi
'sash' is the definition.
(type of Japanese sash or belt)
'originally bought in old india' is the wordplay.
'originally' says to take the initial letters.
'in' means one lot of letters goes inside another.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'india' becomes 'i' (phonetic alphabet: alpha, bravo, charlie etc.).
The initial letter of 'bought' is 'b'.
'o'+'i'='oi'
'b' inserted inside 'oi' is 'OBI'.
(Other definitions for obi that I've seen before include "Martial arts sash" , "Kimono sash; W. African sorcery" , "Charm used in witchcraft" , "Garment" , "Sash worn on Japanese kimono" .)