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PARAS is a fiber-fed stabilized high-resolution cross-dispersed echellespectrograph, located on the 1.2 m telescope in Mt. Abu India. Designed forexoplanet detection, PARAS is capable of single-shot spectral coverage of 3800- 9600 A, and currently achieving radial velocity (RV) precisions approaching~1 m/s over several months using simultaneous ThAr calibration. As such, it isone of the few dedicated stabilized fiber-fed spectrographs on small (1-2 m)telescopes that are able to fill an important niche in RV follow-up and stellarcharacterization. The success of ground-based RV surveys is motivating the pushinto extreme precisions, with goals of ~10 cm/s in the optical and <1 m/s inthe near-infrared (NIR). Lessons from existing instruments like PARAS areinvaluable in informing hardware design, providing pipeline prototypes, andguiding scientific surveys. Here we present our current precision estimates ofPARAS based on observations of bright RV standard stars, and describe theevolution of the data reduction and RV analysis pipeline as instrumentcharacterization progresses and we gather longer baselines of data. Secondly,we discuss how our experience with PARAS is a critical component in thedevelopment of future cutting edge instruments like (1) the Habitable ZonePlanet Finder (HPF), a NIR spectrograph optimized to look for planets around Mdwarfs, scheduled to be commissioned on the Hobby Eberly Telescope in 2017, and(2) the NEID optical spectrograph, designed in response to the NN-EXPLORE callfor an extreme precision Doppler spectrometer (EPDS) for the WIYN telescope. Inanticipation of instruments like TESS and GAIA, the ground-based RV supportsystem is being reinforced. We emphasize that instruments like PARAS will playan intrinsic role in providing both complementary follow-up and battlefrontexperience for these next generation of precision velocimeters.

Precision velocimetry planet hunting with PARAS: Current performance and lessons to inform future extreme precision radial velocity instruments