The Pulse Width Modulation (PWM) inverter fed Induction (IM) is widely used in the variable speed drives applications these days with more efficient performance. In the present time, the developments in power electronics and semiconductor technology have led to prevalent use of power electronic converters in the electric drive systems. Many PWM techniques are being used to obtain variable voltage and frequency supply from a three-phase voltage source inverter. The sinusoidal PWM technique has been widely accepted by the researchers, academicians and in the industries [1-4]. But in the present time, space vector PWM (SVPWM) trend is increasing because of their easy digital realization, low switching losses, reduced harmonics with better dc bus utilization. The main advantage of SVPWM is that it reduces harmonic content in the line to line voltage and increases fundamental output voltage by approximately 15% with smooth control of induction motor. In the present paper, the authors have proposed and developed open and closed loop SVPWM inverter fed Induction motor model in the latest MATLAB/Simulink environment. It has also been observed that the closed loop model gives better results as compared to open loop model. Further, the V/f control and Total Harmonic Distortion (THD) analysis has been carried out.