Variable frequency induction motors are extensively used in industry. The performance of variable frequency induction motor drive (VFIMD) significantly depends on the power quality of the motor driven inverter. Moreover, the power quality of the motor driven inverter is greatly influenced by the pulse width modulation (PWM) technique. Space vector pulse width modulation (SVPWM) is very well known for VFIMD. Traditional SVPWM suffers from harmonics, power loss, and torque ripple problem. In this work, a modified SVPWM strategy is proposed to mitigate the shortcomings of traditional SVPWM. The proposed technique not only improves total harmonic distortion (THD) of inverter output voltage and power loss but also reduces the torque ripple of the VFIMD. All the simulation work are carried out in MATLAB/Simulation environment to verify the effectiveness of the proposed technique.