This article presents a comprehensive investigation into the improved operation of an in‐direct matrix converter (IMC) through the application of improved pulse width modulation (PWM) techniques. Matrix converters (MCs) draw a discontinuous and distorted input current from the AC source, reducing the input power factor and increasing harmonics. The primary objectives of this work are to maximize the DC‐link voltage and improve source current while simultaneously minimizing switching losses and the total harmonic distortion (THD) of the load voltage, thereby improving power quality standards. To achieve these goals, a symmetrical space vector PWM technique (SSVPWM) is employed on the rectifier side, and an improved bus‐clamping PWM technique (BCPWM) is implemented on the inverter side. By strategically controlling the switching patterns, the DC‐link voltage is maximized while adhering to the voltage and current constraints of the switching devices, which improves the input power factor and hence the overall power quality. Additionally, this technique optimizes the operation of the IMC, leads to a reduction of current ripple, and reduces switching losses, thereby leading to higher efficiency. The core principle behind this research lies in the decoupled control of the rectifier and inverter stages, allowing for independent optimization and maximum system performance. By carefully manipulating the modulation indices, the harmonic content in the output voltage is significantly minimized which is vital for applications requiring a high‐quality and low‐distortion power supply. Simulation studies substantiate the efficacy of the independent control approach, showcasing improvements in DC‐link voltage maximization, switching loss reduction, and reduced output voltage THD. Furthermore, the validation of the real‐time implementation of this study was carried out making use of the OPAL‐RT (OP4510) real‐time simulator.