Design of a Pump Jet Propulsor (PJP) was undertaken for an underwater body with axisymmetric configuration using axial/low compressor design techniques supported by Computational Fluid Dynamics (CFD) analysis for performance prediction. Experimental evaluation of the PJP was earned out through experiments in a Wind Tunnel Facility (WTF) using momentum defect principle for propulsive performance prior to proceeding with extensive experimental evaluation in towing tank and cavitation tunnel. Experiments were particularly conducted with respect to Self Propulsion Point (SPP), residual torque and thrust characteristics over a range of vehicle advance ratio in order to ascertain whether sufficient thrust is developed at the design condition with least possible imbalance torque left out due to residual swirl in the slip stream. Pumpjet and body models were developed for the propulsion tests using Aluminum alloy forged material. Tests were conducted from 0 m/s to 30 m/s at four rotational speeds of the PJP. SPP was determined confirming the thrust development capability of PJP. Estimation of residual torque was carried out at SPP corresponding to speeds of 15, 20 and 25 m/s to examine the effectiveness of the stator. Estimation of thrust and residual torque was also carried out at wind speeds 0 and 6 m/s for PJP RPMs corresponding to self propulsion tests to study the propulsion characteristics during the launch of the vehicle m water where advance ratios are close to Zero. These results are essential to assess the thrust performance at very low advance ratios to accelerate the body and to control the body during initial stages. This technique has turned out to be very useful and economical method for quick assessment of overall performance of the propulsor and generation of exhaustive fluid dynamic data to validate CFD techniques employed.