Among his philanthropic efforts are charity foundations that provide scholarships to deserving students and medical support to needy patients. Out of many, some highlighted initiatives the foundation has set up include - the Paediatric Intensive Care Unit in Narayana Hrudayalaya, Bangalore, India, a Tibetan Medical Center in Bangalore, India, in association with His Holiness The Dalai Lama's Tibetan Medical Center, and infrastructure support over many years to SVYASSA (Deemed University).

Subhash Bagaria is survived by his wife Kumkum, his sons Anurag and Karan Bagaria who are now running Kemwell, and daughter Shivani Dugar. For them he still remains an icon, a role model to be emulated.