Speed control technique are generally essential in adjustable speed drive system. This system requires variable voltage and frequency supply which is obtained from a three phase voltage source inverter. This paper presents the speed control of induction motor fed by a three phase voltage source inverter using pulse width modulation method and universal bridge. To control the peak dc link voltage of voltage source inverter, a PID controller was designed. The performance analysis of open loop and closed loop speed control system is carried out in Matlab/Simulink. The simulation result shows that the speed controller has a good dynamic response and can control the induction motor successfully with a better performance.