This document proposes a three-phase induction motor drive with a single controllable switch and PWM control. It aims to improve efficiency and power factor over existing variable frequency drives. The proposed drive uses a single switch and diodes to chop the three-phase AC voltage fed to the motor. Low value capacitors connected in parallel maintain current continuity in the motor windings during freewheeling. Motor speed can be varied by controlling the duty ratio of the PWM signal to the switch. Simulation results show the motor current remains in phase with the supply voltage, improving power factor compared to conventional angle control methods. The proposed drive is expected to provide higher efficiency operation of industrial fans, pumps and other loads with simplicity and low cost.