diff --git a/gradle.properties b/gradle.properties
index 223dcfb79c24c1..4d0bece201bd22 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -6,4 +6,4 @@ org.gradle.parallel=true
 
 ANDROID_NDK_VERSION=21.4.7075529
 android.useAndroidX=true
-kotlin_version=1.4.32
+kotlin_version=1.5.31
diff --git a/gradle/wrapper/gradle-wrapper.properties b/gradle/wrapper/gradle-wrapper.properties
index af7be50b1015cb..a0f7639f7d360d 100644
--- a/gradle/wrapper/gradle-wrapper.properties
+++ b/gradle/wrapper/gradle-wrapper.properties
@@ -1,5 +1,5 @@
 distributionBase=GRADLE_USER_HOME
 distributionPath=wrapper/dists
-distributionUrl=https\://services.gradle.org/distributions/gradle-7.1.1-all.zip
+distributionUrl=https\://services.gradle.org/distributions/gradle-7.2-all.zip
 zipStoreBase=GRADLE_USER_HOME
 zipStorePath=wrapper/dists
diff --git a/packages/react-native-gradle-plugin/build.gradle.kts b/packages/react-native-gradle-plugin/build.gradle.kts
index 88d9dc7774aa7a..6320a994ad4051 100644
--- a/packages/react-native-gradle-plugin/build.gradle.kts
+++ b/packages/react-native-gradle-plugin/build.gradle.kts
@@ -9,7 +9,7 @@ import org.gradle.api.internal.classpath.ModuleRegistry
 import org.gradle.configurationcache.extensions.serviceOf
 
 plugins {
-  kotlin("jvm") version "1.4.21"
+  kotlin("jvm") version "1.5.31"
   id("java-gradle-plugin")
 }
 
@@ -30,7 +30,7 @@ gradlePlugin {
 dependencies {
   implementation(gradleApi())
   implementation("com.android.tools.build:gradle:4.2.2")
-  
+
   testImplementation("junit:junit:4.13.2")
 
   testRuntimeOnly(
diff --git a/packages/react-native-gradle-plugin/gradle/wrapper/gradle-wrapper.properties b/packages/react-native-gradle-plugin/gradle/wrapper/gradle-wrapper.properties
index af7be50b1015cb..a0f7639f7d360d 100644
--- a/packages/react-native-gradle-plugin/gradle/wrapper/gradle-wrapper.properties
+++ b/packages/react-native-gradle-plugin/gradle/wrapper/gradle-wrapper.properties
@@ -1,5 +1,5 @@
 distributionBase=GRADLE_USER_HOME
 distributionPath=wrapper/dists
-distributionUrl=https\://services.gradle.org/distributions/gradle-7.1.1-all.zip
+distributionUrl=https\://services.gradle.org/distributions/gradle-7.2-all.zip
 zipStoreBase=GRADLE_USER_HOME
 zipStorePath=wrapper/dists
diff --git a/template/android/gradle/wrapper/gradle-wrapper.properties b/template/android/gradle/wrapper/gradle-wrapper.properties
index af7be50b1015cb..a0f7639f7d360d 100644
--- a/template/android/gradle/wrapper/gradle-wrapper.properties
+++ b/template/android/gradle/wrapper/gradle-wrapper.properties
@@ -1,5 +1,5 @@
 distributionBase=GRADLE_USER_HOME
 distributionPath=wrapper/dists
-distributionUrl=https\://services.gradle.org/distributions/gradle-7.1.1-all.zip
+distributionUrl=https\://services.gradle.org/distributions/gradle-7.2-all.zip
 zipStoreBase=GRADLE_USER_HOME
 zipStorePath=wrapper/dists