@akhilvelagapudi hank you for your query !
As you can see in Support Chinese Guomi SM2 crypt by youngbug · Pull Request #1620 · Mbed-TLS/mbedtls · GitHub and SM4 implementation by mjosaarinen · Pull Request #1165 · Mbed-TLS/mbedtls · GitHub, The work on SM2 and SM4 has started, however we can’t commit on when it will be merged as they still require additional work.
You are welcome to watch these PRs for their progress.
Regards,
Mbed TLS team member
Ron