Quantum Evolutionary Algorithm (QEA) based proportional-integral (PI) controller tuning is used for getting fast speed response induction motor (IM) drive. A high performance simple sensorless control of induction motor drive is also presented in this paper. The control principle is based on direct torque control (DTC) with space vector modulation (SVM) technique. The SVM reduces the torque and flux ripples and improve steady state performance. A correlated real time recurrent learning (CRTRL) algorithm based on recurrent neural network (RNN) is used to estimate rotor flux which eliminates rotor position sensor. A simple speed estimator for the induction motor is proposed to make the controller cost effective and speed sensorless. The proposed control methodologies and simulation results are given and discussed.