This study analyses the livelihoods of marine fishing communities in the Indian coastal state of Orissa using the sustainable livelihoods approach. It investigates the relationships between livelihoods and coastal poverty and seeks to develop simple qualitative indicators to monitor the changes in these relationships over time. The key trends affecting the livelihoods of the poor in the coastal fishing communities in Orissa range across the whole spectrum of "assets" - i.e. the natural, physical, social, human and financial - and contribute to changes in terms of availability as well as access to the assets for the poorer stakeholders. This paper also examines the impact of seasonality and shocks upon the fisheries-based livelihoods and the importance and influence of various policies, institutions and processes in addressing the fishers' need to cope with their vulnerability context in a meaningful manner. It summarizes the various factors having an impact upon the livelihoods of the fishers and develops them into simple indicators relevant in assessing the changing patterns of poverty in fishing communities of Orissa.