This paper introduces a comprehensive examination of vector-controlled- (VC-) based techniques intended for induction motor (IM) drives. In addition, the evaluation and critique of modern control techniques that improve the performance of IM drives are discussed by considering a systematic literature survey. Detailed research on variable-speed drive control, for instance, VC and scalar control (SCC), was conducted. The SCC-based systems’ speed and V/f control purposes are clarified in closed and open loops of IM drives. The operations, benefits, and drawbacks of the direct and indirect field-oriented control systems are illustrated. Furthermore, the direct torque control (DTC) method for IMs is reviewed. Numerous VC methods established along with microprocessor/digital control, model reference adaptive control (MRAC), sliding mode control (SMC), and intelligent control (in terms of fuzzy logic (FL) and artificial neural networks (ANNs)) are described and examined. Uncertainties in the IM parameter are a considerable problem in VC drives. Therefore, this problem is addressed, and some studies that attempted to provide solutions are listed. Magnetic saturation and core loss impact are mentioned, as they are important issues in IM drives. Toward demonstrating the strengths and limitations of various VC configurations, a few experiments were simulated via MATLAB® and Simulink® that show the influence of machine parameter variation. Efforts are made to supply powerful guidelines for practicing engineers and researchers in AC drives.