diff --git a/.github/workflows/ci_cargo.yml b/.github/workflows/ci_cargo.yml
index e45ce88..f1fc093 100644
--- a/.github/workflows/ci_cargo.yml
+++ b/.github/workflows/ci_cargo.yml
@@ -28,8 +28,8 @@ jobs:
       matrix:
         target: ["esp32", "esp32c3", "esp32c2", "esp32c6", "esp32h2", "esp32s2", "esp32s3"]
         esp-idf:
+          - version: v5.3
           - version: v5.2
-          - version: v5.1 # only for compairson why no_std build fails on v5.2
           # - version: master
     steps:
       - name: Setup | Rust (RISC-V)
@@ -69,17 +69,13 @@ jobs:
       - uses: actions/checkout@v4
         with:
           path: /home/runner/work/esp-idf-template/esp-idf-template/github-esp-idf-template
-      - name: Generate v5.2
-        if: matrix.esp-idf.version == 'v5.2' || matrix.esp-idf.version == 'v5.1'
+      - name: Generate
         run: cargo generate --path /home/runner/work/esp-idf-template/esp-idf-template/github-esp-idf-template cargo --name ${{ matrix.target }} --vcs none --silent -d mcu=${{ matrix.target }} -d advanced=true -d espidfver=${{ matrix.esp-idf.version }} -d devcontainer=false -d wokwi=false -d ci=false
       - name: Build | Fmt Check
-        if: matrix.esp-idf.version == 'v5.2' && matrix.target == 'esp32c3'
         run: cd ${{ matrix.target }}; cargo fmt -- --check
       - name: Build | Clippy
-        if: matrix.esp-idf.version == 'v5.2' || matrix.esp-idf.version == 'v5.1'
         run: cd ${{ matrix.target }}; cargo clippy --no-deps -- -Dwarnings
       - name: Build | Compile
-        if: matrix.esp-idf.version == 'v5.2' || matrix.esp-idf.version == 'v5.1'
         run: cd ${{ matrix.target }}; cargo build
   container-checks:
     name: "Container Check: ${{ matrix.target }}"
diff --git a/CHANGELOG.md b/CHANGELOG.md
index bdb0138..efaed1f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -12,6 +12,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 ### Breaking
 
 ### Added
+- Update the template to the latest-released `esp-idf-svc`
+- Update the template to ESP-IDF V5.3 (latest stable)
 
 ### Fixed
 - Fixed the generated GH CI by making sure `ldproxy`, `cargo fmt`, `cargo clippy` and rust src for `-Zbuild-std` are operational with the nightly toolchain (#253)
diff --git a/README-cmake-details.md b/README-cmake-details.md
index 21d0f9a..19d47cc 100644
--- a/README-cmake-details.md
+++ b/README-cmake-details.md
@@ -169,7 +169,7 @@ env:
   CARGO_TERM_COLOR: always
   GITHUB_TOKEN: ${{ secrets.GITHUB_TOKEN }}
   ESP_TARGET: esp32
-  ESP_IDF_VERSION: v5.1
+  ESP_IDF_VERSION: v5.3.2
 
 
 jobs:
diff --git a/README-cmake.md b/README-cmake.md
index d53beb3..8adf289 100644
--- a/README-cmake.md
+++ b/README-cmake.md
@@ -145,7 +145,7 @@ When using `idf.py` and CMake driven ESP-IDF projects, you need to [install the
 Simple installation for Linux & MacOS:
 ```sh
 git clone https://github.com/espressif/esp-idf
-git -C esp-idf checkout release/v5.1
+git -C esp-idf checkout release/v5.3
 esp-idf/install.sh
 . esp-idf/export.sh
 ```
@@ -153,7 +153,7 @@ esp-idf/install.sh
 Simple installation for Windows:
 ```sh
 git clone https://github.com/espressif/esp-idf
-git -C esp-idf checkout release/v5.1
+git -C esp-idf checkout release/v5.3
 esp-idf\install
 esp-idf\export
 ```
diff --git a/README.md b/README.md
index 8260665..c96800e 100644
--- a/README.md
+++ b/README.md
@@ -31,8 +31,8 @@ The command will display a few prompts:
 - `Which MCU to target?`: SoC model, e.g. `esp32`, `esp32s2`, `esp32c3` etc.
 - `Configure advanced template options?`: If `false`, skips the rest of the prompts and uses their default value. If `true`, you will be prompted with:
   - `ESP-IDF Version`: ESP-IDF branch/tag to use. Possible choices:
-    - [`v4.4`](https://github.com/espressif/esp-idf/releases/tag/v4.4.5): Stable
-    - [`v5.1`](https://github.com/espressif/esp-idf/releases/tag/v5.1): Stable
+    - [`v5.3`](https://github.com/espressif/esp-idf/releases/tag/v5.3.2): Stable
+    - [`v5.2`](https://github.com/espressif/esp-idf/releases/tag/v5.2.3): Stable
     - [`master`](https://github.com/espressif/esp-idf/tree/master): **Unstable**. Please do NOT choose the `master` ESP IDF version, unless you
       really have a very good reason to. Building against ESP IDF `master` is NOT officially supported, and can break any time.
    - `Configure project to support Wokwi simulation with Wokwi VS Code extension?`: Adds support for Wokwi simulation using [VS Code Wokwi extension](https://marketplace.visualstudio.com/items?itemName=wokwi.wokwi-vscode).
diff --git a/cargo/.cargo/config.toml b/cargo/.cargo/config.toml
index 1982fc4..366b406 100644
--- a/cargo/.cargo/config.toml
+++ b/cargo/.cargo/config.toml
@@ -3,8 +3,8 @@ target = "{{ rust_target }}"
 
 [target.{{ rust_target }}]
 linker = "ldproxy"
-runner = "espflash flash --monitor" # Select this runner for espflash v3.x.x
-rustflags = [ "--cfg",  "espidf_time64"] # Extending time_t for ESP IDF 5: https://github.com/esp-rs/rust/issues/110
+runner = "espflash flash --monitor"
+rustflags = [ "--cfg",  "espidf_time64"]
 
 [unstable]
 build-std = ["std", "panic_abort"]
@@ -12,12 +12,10 @@ build-std = ["std", "panic_abort"]
 [env]
 MCU="{{ mcu }}"
 # Note: this variable is not used by the pio builder (`cargo build --features pio`)
-{%- if espidfver == "v5.1" %}
-ESP_IDF_VERSION = "v5.1.4"
+{%- if espidfver == "v5.3" %}
+ESP_IDF_VERSION = "v5.3.2"
 {% elsif espidfver == "v5.2" %}
-ESP_IDF_VERSION = "v5.2.2"
+ESP_IDF_VERSION = "v5.2.3"
 {% elsif espidfver == "master" %}
 ESP_IDF_VERSION = "master"
 {% endif %}
-# Workaround for https://github.com/esp-rs/esp-idf-template/issues/174 
-CRATE_CC_NO_DEFAULTS = "1"
diff --git a/cargo/Cargo.toml b/cargo/Cargo.toml
index 646fff6..d81f6bd 100644
--- a/cargo/Cargo.toml
+++ b/cargo/Cargo.toml
@@ -24,8 +24,7 @@ experimental = ["esp-idf-svc/experimental"]
 
 [dependencies]
 log = "0.4"
-esp-idf-svc = { version = "0.49", features = ["critical-section", "embassy-time-driver", "embassy-sync"] }
+esp-idf-svc = { version = "0.50", features = ["critical-section", "embassy-time-driver", "embassy-sync"] }
 
 [build-dependencies]
-embuild = "0.32.0"
-cc = "=1.1.30" # Version "1.1.30" necessary until a new version of `esp-idf-sys` is released
+embuild = "0.33"
diff --git a/cargo/cargo-generate.toml b/cargo/cargo-generate.toml
index a748b2b..945c79d 100644
--- a/cargo/cargo-generate.toml
+++ b/cargo/cargo-generate.toml
@@ -19,8 +19,8 @@ default = false
 [conditional.'advanced'.placeholders.espidfver]
 type = "string"
 prompt = "ESP-IDF version (master = UNSTABLE)"
-choices = ["v5.1", "v5.2", "master"]
-default = "v5.2"
+choices = ["v5.3", "v5.2", "master"]
+default = "v5.3"
 
 [conditional.'advanced'.placeholders.devcontainer]
 type = "bool"
diff --git a/cmake/components/rust-{{project-name}}/Cargo.toml b/cmake/components/rust-{{project-name}}/Cargo.toml
index 6d87bd1..369b2e3 100644
--- a/cmake/components/rust-{{project-name}}/Cargo.toml
+++ b/cmake/components/rust-{{project-name}}/Cargo.toml
@@ -23,7 +23,7 @@ experimental = ["esp-idf-svc/experimental"]
 
 [dependencies]
 log = "0.4"
-esp-idf-svc = { version = "0.49", default-features = false, features = ["std", "native", "critical-section", "embassy-time-driver", "embassy-sync"] }
+esp-idf-svc = { version = "0.50", default-features = false, features = ["std", "native", "critical-section", "embassy-time-driver", "embassy-sync"] }
 
 [build-dependencies]
-embuild = "0.32.0"
+embuild = "0.33"