Which part of a plot structure introduces the conflict or obstacle the main character faces?

The order the plot structure goes is as follows :

1) Exposition
2) The Inciting Incident
3) Rising Action
4) Climax
5) Falling Action
6) Resolution

In this set up, The Inciting Incident would be the place where the conflict or obstacle that the main character faces would be introduced. The Exposition introduces the characters and setting, the Inciting Incident introduces the main conflict, the rising action is all the events leading to the most important part of the story (the climax), the falling action are the events that take place after the climax that leads to the resolution, or end of the story.