Usually when my friends ask for channel recommendations I just share a particular channel directly, never thought about sharing the entire subscription list but now that I think about it, it does make sense and it seems weird that YouTube has no such option. It's particularly useful when changing the Google Account and if we want to take backup of subscribed list.

Judging from the number of upvotes on the YouTube community forum, it does seem like many have already searched for a solution and hopefully someone soon would build a tool for solving this problem.