PARAS is a fiber-fed stabilized high-resolution cross-dispersed echelle
spectrograph, located on the 1.2 m telescope in Mt. Abu India. Designed for
exoplanet 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 is
one 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 stellar
characterization. The success of ground-based RV surveys is motivating the push
into extreme precisions, with goals of ~10 cm/s in the optical and <1 m/s in
the near-infrared (NIR). Lessons from existing instruments like PARAS are
invaluable in informing hardware design, providing pipeline prototypes, and
guiding scientific surveys. Here we present our current precision estimates of
PARAS based on observations of bright RV standard stars, and describe the
evolution of the data reduction and RV analysis pipeline as instrument
characterization progresses and we gather longer baselines of data. Secondly,
we discuss how our experience with PARAS is a critical component in the
development of future cutting edge instruments like (1) the Habitable Zone
Planet Finder (HPF), a NIR spectrograph optimized to look for planets around M
dwarfs, scheduled to be commissioned on the Hobby Eberly Telescope in 2017, and
(2) the NEID optical spectrograph, designed in response to the NN-EXPLORE call
for an extreme precision Doppler spectrometer (EPDS) for the WIYN telescope. In
anticipation of instruments like TESS and GAIA, the ground-based RV support
system is being reinforced. We emphasize that instruments like PARAS will play
an intrinsic role in providing both complementary follow-up and battlefront
experience for these next generation of precision velocimeters.