Economic Development is a crucial concern for the less developed economies since their emancipation from the colonial powers. They were provided with models, strategies and policies in this endeavor. However such modernization attempts became only partially successful. The failures which were also the outcome of this capitalist development process reflected mainly in the form of increasing marginalization and loss of livelihood of the common people. However, in the case of Kerala fishery development, the marginalized sections responded to their set back by involving in multi dimensional efforts aimed at strengthening the material means of production. They successfully retrieved their lost space by regaining their control of labour process. This unusual phenomenon that has occurred in the Kerala fishery need not remain as isolated epoch. In the post-globalization phase, there is growing realization about the extensive marginalization of different sections of people caused by globalization across the world. Also, a consensus is emerging about the need for providing a qualitative dimension to the life conditions of the-human beings by the international community. The collective efforts by the deprived communities to regain their self sustenance along with the concern of the global civil society to assure a decent living to all human beings would provide new dimension of development. The Kerala experience in the fishing sector would be a fore runner, in this regard.