The performance enhancement of the Induction Motor (IM) is a crucial and strenuous task. The Direct Torque Control (DTC) method is a common control strategy for boosting the IM drives and wildly implemented due to its merits including insensibility to motor parameters and fast response. However, the main shortage of the traditional DTC method is that it may lead to large flux and torque ripples. In this regard, this paper proposes an efficient control method called a Finite-State Predictive Torque Control (FS-PTC) which is based on multi objective optimization technique to overcome the shortage in the conventional DTC method. In addition to that a ranking approach is presented to assign the weighting factor in the cost function which directly affects the performance of system. The proposed ranking approach is based on elimination the weighting factor by replacing the single cost function with two different cost functions. The proposed FS-PTC is applied and tested using the dSPACE environment to validate its effectiveness and efficacy. From the experimental simulations, the performance of system is enhanced considerably where the torque and flux ripples are reduced with maintaining a constant switching frequency compared to the conventional DTC.