This paper proposes a new topology of five-phase inverter with reduced number of switches fed coil with indirect rotor field oriented five-phase induction motor. It employs only eight IGBT switches performing a five-phase inverter. The reduction of the number of power switches from ten to eight reduces the cost, volume-compactness and reliability of five-phase induction motor drive systems. Simulation of the proposed drive system is developed using the Matlab/Simulink package and the results are analyzed to verify the effectiveness at different operating conditions. Comparison between performance of the five-phase induction motor under classical ten-switch inverter and the new topology, at the same operation conditions, has been illustrated. The proposed system gives similar operations as the classical ten-switch inverter for a certain range of motor speed and load torque. The DC voltage of the proposed inverter must be compensated to a higher value for achieving the same performance of classical ten-switch inverter in all ranges of motor speed and load torque.