Sir. Isaac newton discovered the formula with the universal gravitational constant.
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According to the current understanding of gravity, the force of attraction between any two objects, anywhere in the universe depends on the gravitational constant. It is therefore, considered a universal constant.
There are several different universal constants: Avogadro's number, Gas constant, Gravitational constant. The question needs to be more specific.
There is no significance at all.
G is called The universal gravitational constant because at any point of the universe the value of G is constant. G=6.67*10^-11 N m^2/kg^2...!!!!1
It is the measure of the gravitational force experienced between any two bodies, anywhere in the universe. So, the same number is used to calculate the gravitational attraction between bodies anywhere in the universe. There are, however, some questions as to whether is is (or was) a constant over time.