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Permanent magnet synchronous motors (PMSM) have been accepted and used as variable speed drives because of its static and dynamic characteristics such as lesser volume, light weight, high efficiency, small inertia and hence torque to inertia ratio is high, torque to volume ratio is high, maintenance free and ease of control. PMSM are now days a good choice as high performance drives such as robotic industries and machine manufacturing tools. The proposed technique incorporating space vector pulse width modulated (SVPWM) inverter, for speed control of PMSM drive has been presented in this paper, which has advantage of fast dynamic response with low ripples in speed, torque response, and least dependency on motor parameters. The mathematical modeling of PMSM motor along with vector control strategy is presented in this paper which employs the SVPWM technique for generation of inverter output voltage. The simulation results carried out for the reference speed and reference torque command given by some user defined signal, the output nearly catches the input reference command. Due to requirement of the Voltage Source fed Inverter the PWM technique is employed as 3 level SVPWM strategy which is having maximum achievable peak fundamental phase voltage for conventional sinusoidal modulation. Simulation results show that it has good dynamic and static characteristics with lesser overshoot and small speed and ripple free torque pulsation. A simulation model is developed in MATLAB / SIMULINK to judge the various performance parameters.