IRD is the near-infrared high-precision radial velocity instrument for the Subaru 8.2-m telescope. It is a relatively compact (~1m size) spectrometer with a new echelle-grating and Volume-Phase Holographic gratings covering 1-2 micron wavelengths combined with an original frequency comb using optical pulse synthesizer. The spectrometer will employ a 4096x4096-pixel HgCdTe array under testing at IfA, University of Hawaii. Both the telescope/Adaptive Optics and comb beams are fed to the spectrometer via optical fibers, while the instrument is placed at the Nasmyth platform of the Subaru telescope. Expected accuracy of the Doppler-shifted velocity measurements is about 1 m s-1. Helped with the large collecting area and high image quality of the Subaru telescope, IRD can conduct systematic radial velocity surveys of nearby middle-to-late M stars aiming for down to one Earth-mass planet. Systematic observational and theoretical studies of M stars and their planets for the IRD science are also ongoing. We will report the design and preliminary development progresses of the whole and each component of IRD.