In the field of industrial drive applications, a neutral point clamped multilevel inverter (NPC MLI) is an extensively used option. The NPC MLI architecture involves more number of components for higher level and higher switching frequency operation. In this work paper, a novel three-phase 3-Level MLI is proposed evading the usage of clamping diodes and quadratic switches. Additionally, phase disposition pulse width modulation (PD-PWM) control technique is also employed for the proposed MLI. In comparison to NPC MLI, proposed MLI reduces the voltage switching stress as only one switch is operated per inverter leg. Another feature is that there is a considerable reduction in power losses as the current flows only through fewer elements. The proposed 3L inverter topology is explored thoroughly using the MATLAB simulation model. The evaluation of results is also demonstrated concerning the proposed PD-PWM technique by comparing its performance with the conventional sinusoidal PWM method. The Real-Time hardware-in-loop (HIL) simulator is also used to validate the simulation outcomes of the proposed model.