diff --git a/Lib/ensurepip/__init__.py b/Lib/ensurepip/__init__.py
index 94f1b6604cb7ab..885bc4d0b34999 100644
--- a/Lib/ensurepip/__init__.py
+++ b/Lib/ensurepip/__init__.py
@@ -10,8 +10,8 @@
 
 __all__ = ["version", "bootstrap"]
 _PACKAGE_NAMES = ('setuptools', 'pip')
-_SETUPTOOLS_VERSION = "58.1.0"
-_PIP_VERSION = "21.2.4"
+_SETUPTOOLS_VERSION = "59.7.0"
+_PIP_VERSION = "21.3.1"
 _PROJECTS = [
     ("setuptools", _SETUPTOOLS_VERSION, "py3"),
     ("pip", _PIP_VERSION, "py3"),
@@ -41,7 +41,7 @@ def _find_packages(path):
     # comparison since this case should not happen.
     filenames = sorted(filenames)
     for filename in filenames:
-        # filename is like 'pip-21.2.4-py3-none-any.whl'
+        # filename is like 'pip-21.3.1-py3-none-any.whl'
         if not filename.endswith(".whl"):
             continue
         for name in _PACKAGE_NAMES:
@@ -51,7 +51,7 @@ def _find_packages(path):
         else:
             continue
 
-        # Extract '21.2.4' from 'pip-21.2.4-py3-none-any.whl'
+        # Extract '21.3.1' from 'pip-21.3.1-py3-none-any.whl'
         version = filename.removeprefix(prefix).partition('-')[0]
         wheel_path = os.path.join(path, filename)
         packages[name] = _Package(version, None, wheel_path)
diff --git a/Lib/ensurepip/_bundled/pip-21.2.4-py3-none-any.whl b/Lib/ensurepip/_bundled/pip-21.3.1-py3-none-any.whl
similarity index 64%
rename from Lib/ensurepip/_bundled/pip-21.2.4-py3-none-any.whl
rename to Lib/ensurepip/_bundled/pip-21.3.1-py3-none-any.whl
index 46d3012c59b174..769bae6c887c4b 100644
Binary files a/Lib/ensurepip/_bundled/pip-21.2.4-py3-none-any.whl and b/Lib/ensurepip/_bundled/pip-21.3.1-py3-none-any.whl differ
diff --git a/Lib/ensurepip/_bundled/setuptools-58.1.0-py3-none-any.whl b/Lib/ensurepip/_bundled/setuptools-59.7.0-py3-none-any.whl
similarity index 53%
rename from Lib/ensurepip/_bundled/setuptools-58.1.0-py3-none-any.whl
rename to Lib/ensurepip/_bundled/setuptools-59.7.0-py3-none-any.whl
index 18c8c22958f1f1..190392cf56b355 100644
Binary files a/Lib/ensurepip/_bundled/setuptools-58.1.0-py3-none-any.whl and b/Lib/ensurepip/_bundled/setuptools-59.7.0-py3-none-any.whl differ
diff --git a/Misc/NEWS.d/next/Build/2021-12-18-07-05-23.bpo-46119.RPV9ar.rst b/Misc/NEWS.d/next/Build/2021-12-18-07-05-23.bpo-46119.RPV9ar.rst
new file mode 100644
index 00000000000000..da715855dd44ea
--- /dev/null
+++ b/Misc/NEWS.d/next/Build/2021-12-18-07-05-23.bpo-46119.RPV9ar.rst
@@ -0,0 +1 @@
+Update bundled pip to 21.3.1 and setuptools to 59.7.0. Patch by Kumar Aditya.
\ No newline at end of file